# Tradeweb Markets Inc. (TW)

**Exchange:** NASDAQ  
**Sector:** Financial Services  
**Market cap:** $21.70B  
**Price:** $100.99 (+1.31%)

> Tradeweb Markets Inc. is a global operator of electronic marketplaces specializing in rates, credit, equities, and money markets. The company connects broker/dealers, institutional clients, and retail customers, facilitating electronic trading in a broad range of financial instruments. Its core business centers on US and European government debt, mortgage-backed securities, interest-rate swaps, and corporate bonds, both domestic and international. Tradeweb Markets also supplies fixed-income trading and price data, notably through partnerships with major financial data providers. Headquartered in New York City, the firm plays a pivotal role in modernizing and streamlining fixed-income trading, offering transparency, efficiency, and access to a wide array of market participants. Its platforms are widely used by financial institutions seeking reliable and scalable solutions for trading and data analytics in the global capital markets.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $2.05B | — | $835M | $813M | — |
| 2024 | $1.73B | — | $678M | $502M | — |
| 2023 | $1.34B | — | $505M | $365M | — |
| 2022 | $1.19B | — | $413M | $309M | — |
| 2021 | $1.08B | — | $359M | $227M | — |
| 2020 | $893M | — | $263M | $166M | — |
| 2019 | $776M | — | $190M | $84M | — |
| 2017 | $563M | — | $89M | — | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $8.19B | $1.00B | $6.51B | $2.08B | — |
| 2024 | $7.27B | $869M | $5.80B | $1.34B | — |
| 2023 | $7.06B | $1.13B | $5.37B | $1.71B | — |
| 2022 | $6.26B | $714M | $4.95B | $1.26B | — |
| 2021 | $5.99B | $681M | $4.65B | $972M | — |
| 2020 | $5.68B | $661M | $4.30B | $791M | — |
| 2019 | $5.10B | $503M | $3.38B | $461M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | $1.17B | $41M | $1.13B |
| 2024 | $898M | $41M | $857M |
| 2023 | $746M | $19M | $728M |
| 2022 | $633M | $23M | $610M |
| 2021 | $578M | $17M | $561M |
| 2020 | $443M | $11M | $432M |
| 2019 | $311M | $16M | $295M |
| 2017 | $225M | $13M | $211M |

Source: [CompaniesByCap](https://companiesbycap.com/company/TW)